The digitalisation of tax is gathering pace, as tax leaders know only too well.
Five years ago, not many of us were predicting a time when most tax authorities would require real-time, digital reporting and e-invoicing. Today, however, it’s just a question of when.
In the digital economy, authorities are increasingly demanding real-time transaction (supply and invoicing) data. This has led to a constant stream of new regulations, impossible obligations and timelines, last-minute rule changes, and a disconnect between government legislation and regulators’ technical specifications.
Source KPMG
